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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Hoboken Bar Restaurant
(Food & Beverage , Bars, Taverns, and Night Clubs)
Hudson County , NJ
Listing ID: REST606

Listing DetailsGross Revenue: $ 2,659,158
Cash Flow: $ 329,589
FFE: $ 470,000 (Included in Price)
Inventory: $ 3,000 (Included in Price)
Reason for Sale:

The owner is retiring after many years of success in this food service industry.


Training & Support:

The owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator.


OperationsYear Established: 2012
Days & Hours of Operation: Mon.-Sun. 11am-1am
Non-owner Payroll: $ 34,400
Employees: 30
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 11220
Monthly Rent: $ 11,870
Square Footage: 6500
Facilities:

This business opportunity is in Northern New Jersey, Hudson County, which consists of various highly populated and affluent communities with continued high demand for this product and service. This successful restaurant and bar facility is approximately 6,500, square feet and has an attractive quaint appearance. The business is in the city of Hoboken, minutes from the Path & New York Ferry’s.


SummaryBusiness Description:

Solid business opportunity for this highly successful Pub Restaurant with a gross income of $2,659,158 and a substantial net income to the owner operator. This restaurant & bar business is very well known in the city of Hoboken with wonderful food, lots of liquor and excellent service. The establishment is near river views and has recently been fully modernized during the past few years with an elegant and attractive image. The business sales represent 45% liquor and 55% food products representing a substantial return on investment. Known as a charming, landmark this restaurant also features casual eats & rare drafts from the nearby breweries. This restaurant remains one of Hoboken’s’ favorite bars and family restaurants. Their casual dining atmosphere and American infused menu draws locals and tourists to experience a fine casual dining experience. For qualification purposes, this business opportunity and industry requires New Jersey state government licensing approval to purchase or operate in addition to the standard municipal licenses due to the transfer of the consumption liquor license. With respect to the staff, employees and payroll, this restaurant bar and company routinely has thirty full / part time employees who are unaware of the pending sale. The payroll is based on an hourly expense, the staff is fully expected to remain post-closing, and the monthly payroll expense is approximately $34,400. The business transaction has an assignable corporate commercial lease which expires 2032-01-01, plus additional options available, with a monthly rent of $11,870, all in, cost per square foot is estimated at $22.45, and rent security of approximately $11,220. This wonderful bar restaurant business opportunity is located on an active commercial avenue with many other retail businesses, near the Hudson River and the facility has a capacity of approximately two hundred and twenty (220) customers. The business fixed assets has an estimated value of approximately $470,000 which is specifically based on replacement of equipment and licensing cost. The sale consists of a fully equipped Pub Restaurant which includes Use of a valuable consumption liquor license, commercial kitchen, refrigeration & freezer units, web site, social media components, POS system, displays, shelving, tables, computers, fire suppression system including all the necessary equipment to maintain the day to day business operation and a list of assets will be supplied to purchaser upon request.Due to the highly popular city the facility has limited municipal parking near to the business facility. This successful restaurant & Pub business is operational seven days per week, with hours from 11:00 am to 1:00 am. The sale includes all required documentation including a certificate of occupancy from the local municipality, the required state liquor license and city licenses required to conduct its day to day business. The business has been valued / priced based on a multiple of the net yearly income, plus the value of the business assets. Also, possible seller / bank financing has been conditionally approved to a qualified buyer with an appropriate down payment, collateral and credit rating. Due to personal circumstances, the business name is not included in this sale. This is a dependable safe business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent return on investment to the owner operator. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and the photo does Not represent this particular business opportunity.


Competition:

Regarding competition, to the best of our knowledge, due to various circumstances including limited liquor licenses, no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.


Potential Growth:

The business can be further expanded by the new operator, presently has a limited marketing plan, no local advertising, basic web site and if improved can further develop the business yearly gross sales.


Financing/Terms:

Seller financing is available to a qualified buyer